Sembcorp Industries (Sembcorp) delivered a credible first half 2018 (1H2018) result, offsetting a weak performance from its Marine business with improved and stable results from its Utilities and Urban Development businesses respectively.

Sembcorp Industries (Sembcorp) is pleased to announce the appointment of Dr Josephine Kwa Lay Keng to its board as an independent director with effect from August 1, 2018. She is currently a member of Sembcorp’s Technology Advisory Panel, which advises the company on digital and technological developments in line with its growth strategies.

Sembcorp Industries (Sembcorp) is pleased to announce that through its wholly-owned subsidiary Sembcorp Energy Australia, it has signed an agreement to invest in an estimated 77% stake in Vellocet Clean Energy for A$5 million (approximately S$5 million ). The deal establishes a beachhead for Sembcorp to grow in the Australian power market, particularly in the direct supply of renewable energy to companies.

Sembcorp Industries Ltd (Sembcorp) is pleased to announce that its wholly-owned subsidiary, Sembcorp Solar Singapore Pte Ltd (Sembcorp Solar) has won a 50-megawatt project from the Housing & Development Board (HDB) and the Singapore Economic Development Board (EDB).

Asia’s leading sustainable urban development providers, Ascendas-Singbridge Andhra Investment Holdings and Sembcorp Development India, have, through their wholly-owned joint venture company, Singapore Amaravati Investment Holdings, formalised their collaboration with the State Government of Andhra Pradesh (SGOAP) to jointly master develop Amaravati Capital City Start-up Area in India with Amaravati Development Corporation, an agency of the SGOAP.

Sembcorp Industries (Sembcorp) is pleased to announce that it has reached an agreement to acquire UK Power Reserve (UKPR), the UK’s largest flexible distributed energy generator, for £216 million (approximately S$385 million). The deal marks a major step in line with Sembcorp’s new strategy to position itself for the global energy transition, grow its merchant energy capabilities, and build an integrated energy business in the UK.

Sembcorp Industries (Sembcorp) is pleased to announce it has committed a sponsorship of US$200,000 (S$268,920) to UNLEASH 2018, a global innovation programme hosted in Singapore from May 30 to June 6, 2018. The programme is aimed at creating solutions to help achieve the United Nations Sustainable Development Goals (SDGs).

Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary, Sembenviro Recycling, has signed an agreement to divest its 60% stake in Sembcorp Tay Paper Recycling (Sembcorp Tay Paper) to Tay Paper Resources, for a sale consideration of S$6 million. The consideration was arrived at taking into account the earnings and book value of the business and the relevant transaction multiples.